Villere ST Denis J & Co. LLC Has $53.43 Million Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Villere ST Denis J & Co. LLC lowered its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 962,711 shares of the company's stock after selling 18,534 shares during the period. Palomar comprises 4.4% of Villere ST Denis J & Co. LLC's holdings, making the stock its 3rd biggest holding. Villere ST Denis J & Co. LLC owned about 3.90% of Palomar worth $53,430,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLMR. New York State Common Retirement Fund increased its position in shares of Palomar by 1.8% in the third quarter. New York State Common Retirement Fund now owns 10,099 shares of the company's stock worth $513,000 after acquiring an additional 182 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Palomar by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,002 shares of the company's stock worth $581,000 after acquiring an additional 190 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Palomar by 3.8% during the second quarter. PNC Financial Services Group Inc. now owns 5,387 shares of the company's stock valued at $313,000 after purchasing an additional 198 shares in the last quarter. Handelsbanken Fonder AB grew its position in Palomar by 5.3% during the third quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company's stock valued at $214,000 after purchasing an additional 210 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Palomar by 0.9% during the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company's stock valued at $1,397,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Stock Performance

Shares of Palomar stock traded down $3.05 on Monday, reaching $78.42. The stock had a trading volume of 136,809 shares, compared to its average volume of 160,693. The business's 50-day moving average price is $73.86 and its two-hundred day moving average price is $62.61. Palomar Holdings, Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $86.25. The stock has a market cap of $1.95 billion, a P/E ratio of 25.13 and a beta of 0.21.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The business had revenue of $102.35 million during the quarter, compared to analysts' expectations of $95.07 million. As a group, equities analysts forecast that Palomar Holdings, Inc. will post 3.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 1,541 shares of the business's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $59.19, for a total transaction of $91,211.79. Following the transaction, the chief executive officer now owns 46,842 shares of the company's stock, valued at $2,772,577.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palomar news, CEO Mac Armstrong sold 1,541 shares of the business's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $59.19, for a total value of $91,211.79. Following the sale, the chief executive officer now owns 46,842 shares of the company's stock, valued at approximately $2,772,577.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO T Christopher Uchida sold 2,500 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $81.99, for a total transaction of $204,975.00. Following the completion of the sale, the chief financial officer now directly owns 25,344 shares in the company, valued at approximately $2,077,954.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,509 shares of company stock valued at $2,950,557. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Palomar from $66.00 to $68.00 and gave the company an "in-line" rating in a research report on Thursday, February 15th. Jefferies Financial Group raised shares of Palomar from a "hold" rating to a "buy" rating and boosted their price objective for the company from $78.00 to $88.00 in a research report on Thursday, March 14th. JPMorgan Chase & Co. downgraded shares of Palomar from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $79.00 to $85.00 in a research report on Monday. Truist Financial boosted their price objective on shares of Palomar from $72.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Finally, Piper Sandler lifted their target price on shares of Palomar from $80.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.17.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.